Cerity Partners LLC Has $85.41 Million Stock Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Cerity Partners LLC raised its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,108,183 shares of the financial services provider's stock after acquiring an additional 27,603 shares during the quarter. Cerity Partners LLC owned about 0.06% of Charles Schwab worth $85,414,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. bought a new position in Charles Schwab during the first quarter worth $25,000. Westside Investment Management Inc. increased its position in Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after acquiring an additional 150 shares during the period. WFA Asset Management Corp bought a new position in Charles Schwab during the first quarter worth $33,000. Cornerstone Planning Group LLC increased its position in Charles Schwab by 90.5% during the first quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock worth $36,000 after acquiring an additional 220 shares during the period. Finally, Beacon Capital Management LLC increased its position in Charles Schwab by 53.1% during the first quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock worth $38,000 after acquiring an additional 169 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Keefe, Bruyette & Woods boosted their price target on shares of Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a report on Tuesday, April 22nd. Raymond James Financial boosted their price target on shares of Charles Schwab from $91.00 to $99.00 and gave the company an "outperform" rating in a report on Wednesday. JMP Securities reissued a "market outperform" rating and issued a $94.00 price target on shares of Charles Schwab in a report on Monday, April 21st. Finally, Morgan Stanley boosted their price target on shares of Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $92.70.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 10,176 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total transaction of $889,280.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul V. Woolway sold 10,129 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total value of $911,711.29. Following the sale, the insider directly owned 39,154 shares of the company's stock, valued at $3,524,251.54. This represents a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,905 shares of company stock worth $10,530,833 over the last quarter. Corporate insiders own 6.30% of the company's stock.

Charles Schwab Stock Down 1.2%

Shares of NYSE SCHW opened at $91.96 on Friday. The firm's 50-day simple moving average is $88.53 and its 200 day simple moving average is $81.40. The company has a market cap of $167.09 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 0.98 and a beta of 0.93. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a 12-month low of $61.01 and a 12-month high of $93.35.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.03. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same quarter in the prior year, the company earned $0.74 EPS. On average, research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.17%. Charles Schwab's dividend payout ratio (DPR) is 32.73%.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.

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